Category: News

How to handle Bad Credit History Repair

What does “Bad Credit History Repair” mean?
If you have bad credit and would like to repair it but don’t know how, you might type “bad credit history repair” into a search engine to pull up information on how to repair your bad credit history. Bad credit repair does not mean bad service from a credit repair company or that credit repair is bad. It simply means bad credit history that is in need of repair.

You do not need to be trapped by bad credit!
So many American consumers are trapped by bad credit. You may be one of them. Whatever the circumstances that led to your bad credit history, you can improve it through the credit repair process. There are people who will say that repairing bad credit is illegal or unethical and that only time and responsible money management will improve your credit report. Yes, these are certainly important factors, but at the same time there is more you could be doing to repair your bad credit history. There is a legal and ethical process that can lead to the removal of many negative items on your credit report.


“Paid in full” charged off account is better

charged off

Dear Experian,
If you have a charged off account, is it better for it to show “paid in full” or “settled for less?”

Dear JMN,
It is always better for an account to show it was paid in full than to show it was settled for less than the full balance.

A status of “settled for less than full balance” means that you negotiated repayment of the loan for less than was actually owed. Any time you fail to repay the full amount you owe it will be considered negative.

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How Identity Theft Can Kill a Small Business

Identity theft is on the rise again, hitting a 3-year high and producing one new victim every three seconds in 2012, according to a study released Wednesday by Javelin Strategy & Research. Data breaches are responsible for much of the stolen personal information. One in four people who received a breach notification letter fell victim to identity theft, the study found, compared with one in five people in 2011.

Fallout from the upswing in identity theft is hurting small businesses. Fraud victims are more selective of where they shop after an incident, the study said. About 15 percent of all fraud victims actively changed their shopping behavior, avoiding smaller online merchants in favor of larger retail sites.

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Is It Worth Paying for Mortgage Points?

When applying for a mortgage, having a stellar credit score (think: 720 or higher) is the best way to land a low interest rate. But did you know that you could pay additional money at closing to get an even lower interest rate?

Before you commit to a specific loan, your lender might ask you (and if he doesn’t, inquire yourself) if you’re interested in buying points. A point is essentially a fee that is 1 percent of the loan amount. For every point you buy, your interest will generally be lowered 0.125 to 0.25 percent in return…

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